L-R: Tsuyo Manufacturing Founder’s Lalit Baid (COO), Tripurari Kumar (CMO) and Vijay Kumar, (CEO).

Tsuyo Manufacturing, an electric powertrain design and manufacturing start-up, has raised INR 400 million in a Pre-Series A round led by Avaana Capital. The investment will fund Tsuyo's next phase of growth, including the establishment of a second R&D centre and the commissioning of a new greenfield manufacturing facility.

Founded in 2020, Tsuyo has delivered over 150,000 powertrain units across various EV applications to more than 25 OEMs. The company aims for a 7-8x growth within the next three years, with expansion plans targeting Southeast Asia, Japan, Korea and Europe.

The company said it is a tier-1 supplier of integrated powertrain solutions to OEMs, including Mahindra, Volvo Eicher and Sonalika, with products covering three-wheeler, four-wheeler, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV) and off-road applications.

It claims to be the only Indian supplier with a validated powertrain platform for HCVs and retrofit solutions for existing ICE (Internal Combustion Engine) fleets.

The upcoming third manufacturing unit will focus on producing high-wattage electric motors (up to 250 kW) and transmission assemblies, with an initial annual capacity target of 20,000 units. The new facility will also include a vehicle testing track and end-of-line validation systems aligned with PM e-Drive and FAME standards.

The new R&D centre will concentrate on power electronics, embedded systems and prototype development. Tsuyo has filed four patents and has 25 more in the pipeline, including innovations in rare-earth-free motors and hybrid magnet-based motors.

Vikas Verma, Venture Partner at Avaana Capital, said, “Tsuyo is building the backbone of India’s energy transition. Their vertically integrated powertrain, critical for electrification across automotive and industrial applications, exemplifies the kind of indigenous, scalable innovation that will define India’s role in building globally resilient supply chains and reducing reliance on rare earth mineral-based technologies. We’re proud to partner with a team that brings together deep design and engineering innovation with the operational excellence needed to scale commercially”.

Vijay Kumar, Founder & CEO, Tsuyo, said: “Our mission has always been to design and manufacture powertrain systems from India that compete at a global level. With Avaana’s support, we’re scaling high-wattage motor production and advancing deep-tech R&D. From magnet-less designs to novel winding approaches and localised tooling, our focus is on creating more efficient, reliable and sustainable powertrain solutions.”

German engineering company FEV recently released analysis on the economic efficiency of electrified commercial vehicles, suggesting that range extender architectures (REEV/Hybrid BEV) can reduce total cost of ownership (TCO) compared to diesel trucks.

According to data from FEV’s research programme, TCO can be reduced by up to 33 percent depending on the driving cycle. In long-haul scenarios, the analysis indicates a cost reduction of approximately 14 percent. These figures are based on European usage profiles involving depot charging at industrial electricity rates of 19 cents (INR 20-21) per kilowatt hour.

The study identifies reduced battery size as a primary factor in cost-effectiveness. A REEV truck operates with approximately 280 kWh of battery capacity, compared to the 560 kWh required by purely battery-electric (BEV) long-haul trucks.

The smaller battery allows for overnight charging via 22 kW AC infrastructure, providing enough energy for daily operations without the immediate requirement for megawatt charging stations. This reduces vehicle weight and increases payload capacity.

FEV reports that REEV trucks can be integrated into existing depot structures, reducing investment risks for operators. Beyond costs, the analysis suggests a reduction in global warming potential of up to 82 percent compared to diesel vehicles, depending on the energy mix used.

The company is currently developing demonstrator vehicles to validate these findings and translate the data into market-ready solutions for the commercial vehicle segment.

Dr. Norbert W. Alt, COO, FEV Group, said, “Our analysis clearly shows that the range extender makes electric trucks immediately economically and ecologically viable – without waiting for the widespread expansion of high-performance charging infrastructure. This is precisely what is crucial in long-distance transport.”

“Range extender-based Hybrid BEV trucks offer an immediately available, economically highly attractive solution for electrified long-distance transport. They combine high electric driving ranges with minimal infrastructure requirements – and deliver measurable added value precisely where cost decisions are particularly sensitive,” Dr Alt concluded.

EQONIC Group, a UK-based battery technology company, has announced two senior leadership appointments to support the commercialisation of its lithium-free, sodium-free and rare-earth-free battery technology.

John Saunders joins as Executive Director, bringing 30 years of experience in banking, regulation and law. He has held senior roles at Coutts, Barclays, UBS and Deutsche Bank. On the other hand, Angela Knight CBE joins as Non-Executive Director, having previously served as Chief Executive of the British Bankers' Association and Energy UK, with board experience at Taylor Wimpey and Arbuthnot Banking Group.

EQONIC is developing proprietary technology that eliminates the use of lithium, sodium, and rare-earth metals. The company claims that its technology achieves materials cost savings of approximately 70 percent compared to traditional lithium batteries.

The technology utilises abundant materials that are non-flammable, which reduces the risk of thermal runaway. This approach is intended to address supply chain vulnerabilities and ensure the batteries are fully recyclable.

The company plans to license its technology to Original Equipment Manufacturers (OEMs) to enable global deployment while reducing capital risk. EQONIC’s roadmap aims for its technology to surpass sodium battery performance by 2026 and reach Nickel Manganese Cobalt (NMC) levels by 2029.

Currently, EQONIC operates a commercial division serving D2B and B2B clients with lithium iron phosphate (LFP) energy storage systems. The company has secured a multi-million-pound pipeline across multiple sectors.

John Saunders, Executive Director, EQONIC Group, said, "EQONIC's breakthrough technology represents a genuine paradigm shift in the battery sector. The combination of cost reduction, enhanced safety, and sustainable materials addresses the fundamental barriers that have constrained the industry. I'm excited to bring my experience to support the company's growth trajectory as we move toward demonstrating market-ready products and securing strategic partnerships."

Angela Knight CBE, Non-Executive Director, EQONIC Group, said, "EQONIC exemplifies the kind of innovative British technology that can lead global markets. The company's approach - developing transformative technology first, then building robust commercial frameworks around it, is hugely compelling. Strong governance will be critical as EQONIC scales its business model and establishes partnerships with established OEM’s. I look forward to contributing to the board's strategic oversight during this pivotal phase."

Jas Kandola, Founder and CEO, EQONIC Group, stated, "John and Angela bring exactly the calibre of leadership we need at this critical juncture. John's regulatory expertise and commercial acumen will be invaluable as we navigate partnerships and licensing arrangements, while Angela's governance experience across complex, regulated industries will strengthen our board oversight. These appointments reflect our commitment to building a world-class organisation capable of delivering on the enormous potential of our technology."

Einride AB, a technology company specialising in electric and autonomous freight, has appointed Gary Hicok to its Board of Directors. He joins the company following a 25-year career at Nvidia, where he held several leadership roles in autonomous technology and automotive hardware.

The appointment comes as Einride prepares for a public listing on the New York Stock Exchange through a business combination with Legato Merger Corp. III.

During his tenure at Nvidia, Hicok served as Senior Vice-President of the Mobile Business Unit and led Automotive Hardware and Systems. He oversaw the development of the Nvidia DRIVE platform and the Tegra processor, which are used in safety-critical automotive AI and in-vehicle computing.

His experience spans engineering and executive leadership within AI-driven markets and global organisations. At Einride, he will focus on scaling autonomous platforms and managing industry partnerships.

Einride operates in seven countries with more than 25 enterprise customers. The company reports approximately USD 65 million in expected annual recurring revenue (ARR) from signed contracts, with a potential long-term ARR exceeding USD 800 million through joint business plans.

The company has secured regulatory permits for autonomous vehicle operations in the United States and Europe. Its platform uses proprietary AI technology to manage electric and autonomous fleets, targeting the global road freight market.

Gary Hicok said, “Einride is solving an industry-scale problem the right way. Its platform approach unlocks partnerships, accelerates innovation, and makes electrified and autonomous freight real. I’ve watched many smart companies struggle with doing everything in house. It doesn’t scale or leverage the expertise of the industry, whereas Einride’s approach does. I believe its approach is built to win.”

Robert Falck, Founder and Executive Chairman, Einride, said, “Gary brings deep, hands-on experience scaling autonomous technology through critical partnerships across the automotive and technological ecosystem. Working alongside the Einride team, his perspective on building and scaling safety-critical platforms with industry partners will strengthen our ability to deploy autonomy globally. We’re pleased to welcome him to the Board.”

Roozbeh Charli, Chief Executive, Einride, added, “Gary's expertise and experience in building high-performing teams tackling the most advanced technology development will be instrumental for us as we continue to scale and cement our leadership position within autonomous freight technology. I’m incredibly proud of what we’ve built so far, and I’m excited for what we’ll achieve together with Gary’s unique experience.”

American powertrain major BorgWarner has been awarded a contract by a European original equipment manufacturer (OEM) to supply an 800V Integrated Drive Module (iDM). The system will support a Range Extended Electric Vehicle (REEV), with mass production scheduled to commence in 2029.

The iDM is a system incorporating a single-electric-machine design that provides both generator and drive functionality. The module operates alongside an inverter, two clutches and a dual-mass flywheel. It is paired with the customer's internal combustion engine.

The system includes energy-efficient generator functionality and an all-wheel-drive mode. By combining two REEV functions into one product, the module aims to optimise vehicle architecture.

The integrated inverter utilises Viper power switches and dual-side cooled power module technology. This platform is designed for high-performance electric drive applications to manage high-voltage and high-current requirements.

Dr. Stefan Demmerle, Vice-President, BorgWarner Inc. and President and General Manager, PowerDrive Systems, said, “Securing this program award underlines BorgWarner’s strength in electric drive technology and system integration. With the China team taking the lead and collaborating with a global team, we have created a highly integrated solution that balances performance, efficiency, and packaging. We are proud to support our customer with innovative technology for its next-generation range extended vehicles.”

BorgWarner maintains in-house capabilities across electric motors, drivelines, power electronics and software. The company intends to use its manufacturing footprint to support the development of the global energy vehicle market.